A Salesperson Has Found the Probability of Making a Sale

question 52

Short Answer

A salesperson has found the probability of making a sale on a particular product manufactured by his or her company is 0.05. If the salesperson contacts 140 potential customers, what is the probability he or she will sell at least 2 of these products?
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Definitions:

Conglomerate Merger

A combination of two or more corporations engaged in entirely different business activities, coming together to form a single corporate structure.

Integrated Merger

A merger between companies at different stages in the production process of a particular industry, often aimed at reducing costs or securing supplies.

Vertical Merger

A merger between two or more companies operating at different stages in the production process of a good or service.

Horizontal Merger

A merger between companies that operate in the same industry, often leading to consolidation in the market.